Syntel India would invest around $ 60 million in its Pune development center in three phases. The company is planning to invest around $ 20 million in first phase, which is expected to be completed by April 2004.Â
Atul Kunwar, COO, Syntel India, said, “This center will cater to the needs of all our customers and this going to be the main development center of the company with a capacity of around 9,000 people. Also all our development centers will be assessed at Level 5 of the SEI’s CMM certification.”
The work in this development would start probably in the next two months and after the completion of the final phase it would be able to incorporate around 2,500 people. The company already has development centers in Mumbai, Chennai and Delhi with strength of around 3,000 people.
The company is adding 300 people every quarter in these development centers. The company is also planning to foray into new verticals that include logistics and travel and telecom application. It is currently servicing verticals that include banking and finance, healthcare, insurance, automotive and retail.
Syntel is a US based company and has now shifted its base to India. It has also shifted all its backend processing to India that includes accounts, HR, etc. Since shifting of backend processing required expertise, which the company has got during the course of time and is now leveraging it on its existing clients as a new business line. The company is now planning to add new clients to this new line of business.
The company is expecting a substantial growth this year as it saw a drop in its revenues last year by around $ 5 million and closed it on $ 165 million on December 2002. This year it is expecting to generate around $ 87 million by June 2003.
Currently, around 56 percent of its revenues comes from onsite and 44 percent from offshore business, but the company is expecting to get at least 70 percent of the business from offshore this year.
Syntel is a global e-Business and Applications Outsourcing company, which delivers real-world technology solutions to corporations. Syntel’s portfolio of services includes e-Business development and integration, wireless solutions, data
warehousing, e-CRM, as well as complex application development and enterprise integration services.